Daikin Europe NV, through its Italian subsidiary Zanotti SpA, has agreed to purchase Spain-based Tewis Smart Systems SL (Tewis), a leading developer of CO2 systems.
On 7 February Zanotti SpA signed an agreement to purchase all the company’s shares.
Tewis, headquarted in Valencia and mainly active in Spain and Portugal, has focused in recent years on developing a range of CO2 refrigeration systems. The company has established solid relationships with several Spanish and Portuguese food retailers. It posted revenues of €14.2 million in 2016.
“This is the result of a great effort and many years of dedication in defending an idea – energy efficiency and investment in commercial refrigeration installations,” said Alfonso Olcina, general sales manager at Tewis.
“Now we’re moving to the next level, and we’re going to have fun!”Alfonso Olcina, Tewis
Zanotti SpA has also reached an agreement to acquire the remaining holdings of subsidiary Zanotti Smart Solutions, SL, which manufactures machinery, equipment, auxiliary elements and components of HVAC&R systems.
“Entrepreneurship, expertise in the sector, the clear focus on the customer and the cultural values that make Tewis so successful make it an excellent match for Daikin,” said Junji Umamoto, vice-president, Daikin Europe NV.
Daikin Europe is part of Japanese multinational air-conditioning firm Daikin.